Acquisitions17 Sept 2024, 01:27 am
CUMI to Acquire 100% Stake in Silicon Carbide Products Inc. for Superior Wear and Thermal Shock Resistance Products
AI Summary
CARBORUNDUM UNIVERSAL LTD. (CUMI) has entered into a Purchase Agreement to acquire 100% membership interest in Silicon Carbide Products Inc. (SCP) through a Type-F reorganisation under the US Internal Revenue Code. The acquisition is expected to complement CUMI's existing product range and significantly aid expansion of market share and geographical footprint beyond the Americas. The acquisition aligns with CUMI's strategic expansion plans and is expected to unlock potential value by utilizing the capabilities that reside across SCP and CUMI.
Key Highlights
- CUMI to acquire 100% stake in Silicon Carbide Products Inc.
- Acquisition through a Type-F reorganisation under the US Internal Revenue Code.
- SCP specialises in producing high quality Nitride Bonded Silicon Carbide (NBSiC) products with superior wear and thermal shock resistance.
- SCP has over three decades of experience in providing customised solutions to customers in the USA and globally.
- The acquisition is expected to complement CUMI's existing product range and significantly aid expansion of market share and geographical footprint beyond the Americas.